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Turkish Wealth Fund to Get Critical Role for Post-Pandemic World

  • TVF will inject cash, buy up distressed firms, officials say
  • Policy signals shift in thinking among Turkey’s authorities
Ataturk Boulevard stands empty during a two-day lockdown imposed to prevent the spread of Covid-19, in Istanbul, on April 12.

Ataturk Boulevard stands empty during a two-day lockdown imposed to prevent the spread of Covid-19, in Istanbul, on April 12.

Photographer: Burak Kara/Getty Images

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Turkey moved to allow its sovereign wealth fund to take over private companies in distress, revealing a major policy shift that’s set to reshape the economy after the coronavirus pandemic is over.